FRANCE AND U.S.A.

Hokitika Guardian, 19 December 1932, Page 5

FRANCE AND U.S.A.

QUESTION OF DEBT

PAYMENT MAY YET BE MADE. (United Press Association—Py Ele3trio Telugt pu—Copyright.; WASHINGTON, December 16. Apparently not wishing to aggravate the FrarJcO-American "debt tangle, Senators Harrison and. Borah have refrained from. discussing l the matter• in’ the (Senate. It. js-t 'understood confidential advices from : France to the State Department -have indicated that*-the over- 1 due payment might yet be made. The Administration officials have refused to amplify these reports. A consultation with Mr. Roosevelt i s likely. ■■ However, one of 'Mr. Hoover’s spokesmen said iMr -Hoover’s general idea was to “keep the. debt. situation liquid” until ■Mr Roosevelt, takes office; uMean while •Mr Hoover ha.;3 • continued -' to be principally desirous of'. givihg relief to Britain, and thus helping .to stabilise her currency, enabling her to resume the gold standard as a result, of higher

commodity prices. The . United States- has ' informed France, and has given ,similar indications to other debtor nations, that the administration 1b willing .to continue debt discussions, but that it is opposed to M»y general conference, and can make no offer of revision. This was the brief outline of .the 'stand taken up ,by the administration, an a given out' on Saturday as from an authoritative source while -Mr > Hoover and his aids have continued, to watch, the efforts by . France ; td-Hoj-m a new Government, and to await, /-other developments abroad. ‘ ~

It was made clear- that the indications given to the debtor nation s have not 'been transmitted in the form of any new formal notes, but have been passed on . previously-exchanged notes and informal conversations with the diplomatic -representatives. Mr Hoover feels, it was stated, that in the face of the defaults the attitude of Congress •against - the creation of - a commission to review ..the. international financial obligations . may ..possibly be '-relaxed. No new decision has) been; made by him as to. when his special'message to will be despatched. An indication ’,w»s .given H-hat he would withhold it until developments abroad justified its. despatch. BRITISH PAYMENT IN GOLD. LONDON, December 17. Arrangements; • hav©.: •’'been - completed ■ for tha shipment of nine million I pounds worth of States by .five; British liners befor© December 31.. j The balance of th© gold will "be shipped during 1933. : ' The Majefitio will this month - take the largest consignment of £2,400,000.